Binance founder Zhao buys about 2 million ASTER, denies selling

Binance founder Changpeng Zhao said he bought just over 2 million ASTER tokens using his own funds and denied viral claims that he sold tens of millions of the token, after a flurry of social media posts and on-chain confusion roiled the asset this week. Zhao announced the purchase on his account, writing that he is not a trader and that he buys and holds, and later labeled the alleged selloff reports as "Fake news," urging followers to ignore the posts that sparked the panic.

The episode began after a large transfer of ASTER between exchange wallets was misattributed to Zhao, prompting a widely circulated claim that a wallet linked to him had liquidated roughly 34 to 35 million ASTER, a move that traders said would be worth about $30 million. Blockchain investigators who examined the ledgers found no evidence of a personal sale by Zhao. Their analysis showed the movements were internal transfers between exchange hot wallets rather than withdrawals or sales by Zhao, and there were no corresponding on-chain trades that would confirm a personal liquidation.

Zhao’s public purchase initially fueled a sharp rally. Market trackers recorded ASTER jumping from levels below one dollar to...